You just posted a huge mis vs the expected MoM drop of 2.2%.
How does it feel to have 3.6% less income in February vs January?
Can't buy as many iCraps now can you?
Even Walmart must be looking like Saks or Nordstrom to you people at this point.
Are there any street lights, church A/C units, manhole covers, live sub-station copper wire or other pieces of urban infrastructure left for you to mine?
Yawn.... The bulk of the drop was due to the hike in payroll taxes, back to what they were before they were cut in 2008 as a recovery measure. Another component was the Democrats just raised the tax on dividends. So, most companies being smarter than the Democrats, paid them out in Dec so they could be taxed at the lower rate, ie it shifted some income from Jan into Dec of last year. Also note the consumer spending increased.
Another lesson here is that apparently personal income can drop 3.6% without the economy missing a beat. But if anyone dares to suggest that the govt cut it's spending by that much, why it's gonna be the end of the world! Planes will fall from the sky.....
LOL. I especially like the crap about how tiny budget cuts are gonna screw up the whole air traffic system. President Reagan fired ALL the air traffic controllers and the system still worked. I remember the usual libs back then claiming there would be air disasters, planes crashing. None did.
Bureaucratic sycophants could likely slow TSA down to a crawl to piss off flyers. Obama has already gathered the Dem governors who probably have the same instructions. How about the release of illegals in Arizona before anything even happened?
I predict recession as we already had a down quarter at the end of the year and this quarter does not look good. Anyone want to bet that Obama doesn't blame it on the Republicans?
Increasing taxes during a recession tends to do that.
I'm OK, but I don't live off Uncle Sam.
Didn't before. But there's a local gun show this weekend.
"You people?"
Nope, they're not mine.
HomoGay, you really are an idiot.
He already did. This morning after his brief meeting with the Republicans, he held a press conference. He said it's all the fault of just some Republicans in Congress. He said most Republicans agree with him, just like the whole country and he's talked to Republicans in Congress who also agree, but won't go against the minority of Republicans who favor the rich. And he said that in the months to come we should all remember that every economic report that comes out would have been better were it not for Congress.
Does that mean he's finally done blaming Bush? And the very first reporter asked him if he accepts part of the blame for sequestration. He gave an answer of all that he's done, how the voters chose him, how reasonable he is, yadda, yadda.... In other words, he accepts zero blame.
Interesting that the WH is now at war with Bob Woodward. Woodward is a lib, but apparently he's had enough of the lying. He wrote a Washington Post piece about how sequestration was the White House's idea, even though now they lie and deny it. And he pointed out that the sequestration was specific to SPENDING cuts only, it never was enacted with regard to increasing revenue. He said Obama is now trying to move the goal posts, by demanding that it include tax hikes. For that, a senior Obama WH advisor called him up and told him he'll regret writing that piece. Must remind Woodward of another president he was involved with......
I heard the news conference. The R word has not happened yet but yes he's blaming them for job losses etc already.
I heard soldiers might get latrine duty. What kind of army is this anyway where they hire people to do jobs other than the actual soldering?
What I can't understand is how inflation is officially listed as so low, but my car insurance, home insurance, grocery bill, and just about every bill I pay has gone up substantially in the past year.
So eat a horse. It's in the "market basket" by now, I'm sure.
During Reaganomics, we had lower taxes, smaller government, and the economy was good. I remember, cause that's about the time I started my business.
During Obama-nomics, we have endless campaign speeches. I have lost hope for this great country, and all I have left is pocket change in the couch cushions.
Christopher A. Young Learn more about Jesus
What I can't understand is how inflation is officially listed as so low, but my car insurance, home insurance, grocery bill, and just about every bill I pay has gone up substantially in the past year.
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